pToken

pToken

When borrowers deposit an asset on Forlend, under the hood, he is contributing the asset to a liquidity pool (or a “market”) that is available for other users to borrow, and they share in the interest that borrowers pay back to the pool.

Each supported asset has its own interest rate market with different rates (floating rate, adjusted for each block based on supply/demand). When users (or applications) supply an asset, interest begins to accrue. Interest accrues every block, and users can withdraw their principal plus interest anytime.

When users supply assets, they receive pTokens from Forlend in exchange at a certain exchange rate. pTokens can be redeemed for their underlying assets (principal plus accrued interest) at any time at a certain exchange rate.

pToken Exchange Rate:

exchangeRate = (totalCash + totalBorrows - totalReserves) / totalSupply totalCash: asset deposited yet not borrowed in the "market" (liquidity pool)

totalBorrows: assets to be repaid to the "market" (liquidity pool) (principal + interest)

totalReserves: total reserve (part of the interest paid back by the borrower is taken as reserve)

totalSupply: total amount of assets deposited in the "market" (liquidity pool)

pToken Address List

pageContract Address